WASHINGTON, July 29, 2005 (PRIMEZONE) -- Today Nuclear Solutions, Inc. (OTCBB:NSOL) announced the hiring of Mr. Nicholas DeVito as a consultant for operations and business development. Mr. DeVito brings a long and sustained track record of guiding companies and their subsidiaries through sustained periods of growth and success.
"As our company enters our next stage of development, we recognized the need to recruit the assistance of a seasoned and proven professional who has successfully guided companies through similar growth phases. Since we operate a highly technical business, we felt that Mr. DeVito's unique combination of proven business acumen and strong technical skills would be a great match. I believe his experience, history of success, and record of accomplishment will have a positive impact on our company's development. With all due fanfare, we welcome him to our team," said Patrick Herda, CEO of Nuclear Solutions.
"I am thrilled to join the Nuclear Solutions team during this period of their growth," said Mr. DeVito. "The technology NSOL is developing, and the subsequent forthcoming products on the horizon, are uniquely positioned to ensure our safety and improve our nation's environment. I couldn't ask for a better opportunity or group of people to work with."
Recently, Mr. DeVito has been helping companies advance to their next stage of development through improving business relationships, reducing costs, growing revenue, raising money for operations, and instituting streamlined business processes that ensure growth with appropriate management oversight.
Previously, he was the Vice President of Marketing, Product Management, and Business Development at Tellium, a former NASDAQ listed company, where he negotiated over $1 Billion in customer contracts, helped to raise over $400 Million in public and private equity, and ensured the delivery of a highly complex optical switching product. He served as the CEO of its subsidiaries as well.
Mr. DeVito has a Bachelor and Masters in Engineering from Columbia University and a Masters in Business Administration from New York University. He began his career at Bell Laboratories and progressed through ATT in ever-increasing management roles that helped develop his skills in engineering, operations, and product management.
About Nuclear Solutions, Inc.:
Nuclear Solutions, based in Washington, D.C., is an emerging innovative technology development company. We are committed to exploring, developing, and commercializing viable product technologies that will enable partner companies to offer new and improved products in the following areas:
Homeland Security and Defense: The development of advanced technology to detect shielded nuclear materials and terrorist nuclear weapons.
Nanotechnology/MEMS applications: The development of long-lived nuclear micro-power sources to power applications in the emerging field of Nanotechnology, Micro-Electro-Mechanical Systems, and the new generation of low-power microelectronics.
Environmental Technology: Development of a patent pending process to remediate tritiated water via an advanced separation technique.
More information about Nuclear Solutions, Inc. may be found on its website: http://www.nuclearsolutions.com.
Disclaimer: The matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties such as our plans, objective, expectations and intentions. You can identify these statements by our use of words such as "may," "when," "expect," "believe," "anticipate," "intend," "could," "estimate," "continue," "plans," "planning," "potentially," "would," or other similar words or phrases. Some of these statements include discussions regarding our future business strategy and our ability to generate revenue, income, and cash flow. Additional funding is required to develop the technology described herein. The actual future results for the Company could differ significantly from those statements. Factors that could adversely affect actual results and performance include, among others, the Company's limited operating history, dependence on key management, financing requirements, technical difficulties commercializing any projects, government regulation, technological change, and competition. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Additionally, patent pending status does not guarantee that a patent will issue or that the technology will be commercially successful. Accordingly, reference should be made to the Company's periodic filings with the U.S. Securities and Exchange Commission.